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09/03/2010

Investor Warren Buffett and Microsoft founder Bill Gates will go to China this month to persuade Chinese billionaires to donate their goods, as part of the "Giving Pledge" that they have released it in the United States, transmit CNN , citing a story in the Financial Times. In June, CNN Money today announced that Buffett and Gates, his wife, Melinda, preparing a charity campaign that could revolutionize the American philanthropic behavior. The purpose of the three - to persuade the country's billionaires, starting with the list compiled by Forbes magazine, the failure to engage at least half of the value of their property charities.

"But fear of being persuaded to give a portion of wealth would have alienated some Chinese billionaires" at dinner that Buffett and Gates are going to offer it to Beijing in September. The exclusive list of guests include Zhang Xin, CEO of SOHO China real estate giant and Wang Chuanfu, chairman of car and battery maker BYD.

According to Chinese media, director of the Bill and Melinda Gates Foundation in Beijing is worried that some guests may not participate. "A few people declined to participate, while many of the guests have called to ask if we will be forced to announce a donation during dinner," said Ray Yip.

"The biggest fear I have is to be humiliated," he said. Yip said also that the dinner is organized to allow Gates and Buffett "to meet new friends and exchange ideas about charity partners interested in, not to persuade the Chinese billionaires make donations." The two American billionaires could actually send letters in advance to assure that the wealthy China will not be obliged to make donations.

Rupert Hoogewerf, who made Hurun Report (rich list in China), said many Chinese are still skeptical about why people donate money and that "the most important shareholder in all charitable organizations in China is always government."

Hoogewerf but expressed optimism about Gates and Buffett's visit to China, especially since the devastating earthquake in Sichuan in 2008 changed the views of many local entrepreneurs. "Bill Gates and Warren Buffett are idolized by their coming here antrepenorii Chinese ... it might be the beginning of philanthropy in China."

Billionaire Buffett and Gates want to donate at least 50% of wealth

In June, CNN Money today announced that Warren Buffett and Bill Gates, his wife, Melinda, preparing a charity campaign that could revolutionize the American philanthropic behavior. The purpose of the three - to persuade the country's billionaires, starting with the list compiled by Forbes magazine, the failure to engage at least half of the value of their property charities.

According to reports in the last four years, Buffett, the third richest man in the world after Bill Gates and Carlos Slim, husbands Gates Foundation donated $ 6.4 billion.With money donated by Bill and Melinda Gates foundation has managed to offer, every year about $ 3 billion, particularly medical organizations.

In a rough calculation, the entire wealth of the Forbes 400 billionaires would amount to 1.2 trillion dollars. Thus, if they would commit to the initiative of three, would raise 600 billion dollars to charities.

Buffett said that wealthy people think what they could do with their property, but postponed the decision until the times when it's too late."If you expect to write his testament to 90 years, the chance that their reasoning power and will be better than is now null," says famous investor.

The idea was developed last year at a meeting between billionaires, headed by David Rockefeller in New York, who took part, among others, Oprah and Michael Bloomberg, mayor of New York and the eighth richest man in the U.S..